Yorkshire Bathrooms and Kitchens Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05422380 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2017

for

Yorkshire Bathrooms and Kitchens Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R Borchard

A D Boddy

P J Gregg

M C Walters

SECRETARY:

G R Borchard

REGISTERED OFFICE:

Boroughbridge Road

Ripon

North Yorkshire

HG4 1UE

REGISTERED NUMBER:

05422380 (England and Wales)

ACCOUNTANTS:

Bushells Chartered Accountants

6 Victoria Avenue

Harrogate

North Yorkshire

HG1 1ED

FIXED ASSETS

Intangible assets

4

7,152

7,744

Tangible assets

5

35,047

42,300

42,199

50,044

CURRENT ASSETS

Stocks

257,000

277,347

Debtors

877,372

779,069

Cash at bank

197,099

128,148

1,331,471

1,184,564

CREDITORS

Amounts falling due within one year

1,113,082

963,464

NET CURRENT ASSETS

218,389

221,100

TOTAL ASSETS LESS CURRENT LIABILITIES

260,588

271,144

CREDITORS

Amounts falling due after more than one year

(139,762

)

(114,478

)

PROVISIONS FOR LIABILITIES

(43,091

)

(7,802

)

NET ASSETS

77,735

148,864

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

77,732

148,861

SHAREHOLDERS' FUNDS

77,735

148,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 September 2018 and were signed on its behalf by:

G R Borchard - Director

A D Boddy - Director

P J Gregg - Director

1.	STATUTORY INFORMATION

Yorkshire Bathrooms and Kitchens Limited is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net amounts receivable for goods supplied, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Domain names are being amortised evenly over their estimated useful life of nil years.

Domain names

Domain names are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property improvement

-

5% on cost

Fixtures and equipment

-

10% on cost

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefit trust

During the year the Company made a contribution into the Yorkshire Bathrooms and Kitchens

Limited 2016 Employee Benefit Trust ("The Scheme") for the benefit of its officers, employees and

their wider families.

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment

arrangements" the Company does not include the assets and liabilities of The Scheme on its balance

sheet to the extent that it considers it will not retain any economic benefit from the assets of The

Scheme and will not have control of the rights or other access to those present economic benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2016 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

and 31 December 2017

11,834

AMORTISATION

At 1 January 2017

4,090

Amortisation for year

592

At 31 December 2017

4,682

NET BOOK VALUE

At 31 December 2017

7,152

At 31 December 2016

7,744

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

98,717

Additions

3,348

At 31 December 2017

102,065

DEPRECIATION

At 1 January 2017

56,417

Charge for year

10,601

At 31 December 2017

67,018

NET BOOK VALUE

At 31 December 2017

35,047

At 31 December 2016

42,300

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

9,074

18,607

Other loans

194,762

138,871

203,836

157,478

The bank loan is secured by charges on the property and undertaking of the company.

The directors of the company are guarantors for the loan.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2017

and 31 December 2016:

2017

2016

£

£

G R Borchard

Balance outstanding at start of year

127,234

124,234

Amounts advanced

2,235

70,000

Amounts repaid

(57,000

)

(67,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

72,469

127,234

A D Boddy

Balance outstanding at start of year

114,308

123,308

Amounts advanced

3,821

58,000

Amounts repaid

(62,000

)

(67,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

56,129

114,308

P J Gregg

Balance outstanding at start of year

119,255

116,255

Amounts advanced

18,599

70,000

Amounts repaid

(57,000

)

(67,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

80,854

119,255

No interest is charged on the loans to directors and there are no repayment terms.

8.	POST BALANCE SHEET EVENTS

Directors' liabilities arising from the EBT Settlements with HM Revenue & Customs will be paid by

the company on the directors' behalf. The final liability is yet to be agreed.

9.	EXCEPTIONAL ITEMS

During the year a provision of £37,000 has been made for amounts payable by the company to HM

Revenue & Customs in regard to EBT Settlements. The provision is the current best estimate of the

full amount which will be charged to reserves.